To legally sell a car, whether it’s new or second-hand, you need to sign a document that proves that the buyer becomes the new owner of that particular vehicle, in exchange for the price you have previously negotiated.
The form may differ a bit from one state to another, but the general information is the same. If you want to make such an auto transaction in Illinois, you will have to complete a bill of sale for car Illinois.
That document will be proof that the buyer agrees to buy the vehicle and is aware of its current condition, and that they sent the money to the seller. The Illinois bill of sale will then be used by the new owner to register the car under their name.
How to Register a Vehicle in Illinois?
The Illinois law states that when you come into possession of a vehicle, whether you buy it, inherit it or receive it as a gift, you have 20 days to register it under your name. If it’s a new car, the dealership will handle the registration process.
If you buy a used car from someone, it’s up to you to fill in the vehicle bill of sale, Illinois, and take it to the local Illinois Secretary of State’s Office.
You can get an electronic registration form, fill it in and print it, and then you still have to go to the SOS office, with the rest of the paperwork. These are the documents you will have to show:
- The title that the previous owner of the car has signed over to you.
- A bill of sale for car Illinois.
- The names and addresses of lienholders, if there are any.
- Proof that you have auto insurance.
- A Tax RUT-50 form that will be used to determine the tax you need to pay.
- The driver’s license or state ID.
- Be prepared to pay the necessary fees, like the vehicle registration fee($101), title fee ($95), and tax fee.
What Is Included in an Illinois Vehicle Bill of Sale?
If you are preparing a private transaction of a car in Illinois, you will have to handle all the paperwork, including the bill of sale for car Illinois. It’s better to use a bill of sale template Illinois to make sure the document is complete, as it will be checked and sealed by a notary public.
These are the items that need to be included in an Illinois bill of sale:
- Identifying information of the seller: full name, address, driver’s license number.
- Identifying information of the buyer: full name, address, driver’s license number.
- Identifying information of the vehicle: make, model, year, vehicle identification number (VIN), color, mileage, and whether the title is included in the sale.
- Mention any liens held on the vehicle; the buyer must acknowledge them.
- The price.
- The date of the payment (it can be at a later date if the parties so decide).
- Method of payment.
- Mention if the car is offered as a gift or it’s part of a trade agreement.
- Names and signatures of the buyer, the seller, and the witnesses.
What Are the Requirements of the Illinois Vehicle Bill of Sale?
The Illinois bill of sale has the same general requirements as all bills of sale from other states. Both parties have to be fully aware of all the aspects of the sale.
The seller has to fully disclose all the relevant details about the car, including its warranty history and any accidents or malfunctions it may have suffered; they also have to make sure the buyer acknowledges the liens held on the car if it’s the case.
They must agree on the terms of payment and the date; if there are any special agreements, they must be mentioned in the Illinois motor vehicle bill of sale. The buyer must carefully review all the information in the document and only sign once they fully understand every aspect.
To make sure everything is correct and legal, a notary public will be part of the transaction. They will check the document, witness the signatures, make their mentions on the form, and then use their state seal on it.
In the end, everyone involved in the transaction will receive a copy to keep in their private records. The original copy will go to the buyer as proof of ownership.
If you want to sell your vehicle but are out of state at the moment you find a buyer, you can still go on with the transaction. But you need to assign limited power of attorney to someone so that they can represent you in the sale.
Filing a bill of sale for car Illinois is mandatory for any transaction, whether the car is new or used. It’s not a complicated document, but it has to include all the essential identifying information because it needs to be sealed by a notary public.
To make sure your document is efficient, you can use a bill of sale template Illinois. You can get an excellent one from CocoSign.